There’s an adage that ‘time flies when you are having fun’ and that could not be more accurate as during the summer, I celebrated my two-year anniversary at Veeam. I cannot believe how fast the past 24 months have flown by. When Ratmir (Timashev) and Andrei (Baranov) first approached me to join Veeam, I was excited. However, nothing could have prepared me for what I have experienced, and I am loving everyone second of it.
As Co-CEO and President, I am always looking ahead. How can we improve? Are we delivering the best solutions to meet customer demands? What will be the next transformational opportunity that we can grasp? But I also like to reflect on the past, and having just closed fiscal Q3’18 I am delighted with the state of the business.
We have just closed another record period, our 41st consecutive quarter of double-digit growth. Bookings grew by more than 22% year-over-year (YoY), which is traditionally a tough quarter across the software business. Our Enterprise business continues to thrive, increasing by almost 25% compared to Q3’17, and we now count more than 80% of the Fortune 500 as Veeam customers.
While I am very pleased with these results, what excites me most is the momentum we are making in the Cloud and with our ecosystem partners. At VeeamON 2018, we unveiled our vision and strategy to be the most trusted provider of Intelligent Data Management solutions in today’s multi-cloud world. We have worked tirelessly to deliver on this vision and we are seeing the rewards; in Q3’18 our cloud business grew by 26% YoY.
A great example of customers embracing Veeam’s approach to data management across multi-cloud environments is Veeam Backup for Microsoft Office 365® Version 2, which we launched in July. We enabled customers and Veeam Cloud and Service Providers (VCSPs) to seamlessly protect their entire Microsoft Office 365 environments and ensure data availability, and we have seen this business soar – bookings are up more than 740% YoY!
But that’s not all. Perhaps our biggest achievement over the past quarter has been the momentum we’ve built with our ecosystem partners. As you know, Veeam has always been – and always will be – a company that is focused on partnerships. Our 59,000 ProPartners know this.
Over the past 18 months we have strengthened our focus with Alliance partners, with Q3’18 growth accelerating exponentially. During the quarter, we announced Veeam Availability for Nutanix AHV. We also expanded collaboration with Cisco to deliver Veeam High Availability on Cisco HyperFlex™ and added our fourth resale partner, Lenovo, to the relationships we have with HPE, Cisco and NetApp.
The result? We grew our Alliances business by 128% YoY. This is a tremendous achievement and I want to personally thank each of our partners for their continued support and engagement. Partners are flocking to Veeam as their preferred data management partner as they know that we can deliver a proposition that meets customers’ demands today and into the future.
It’s been another strong quarter for Veeam and its ecosystem. I want to congratulate all involved. However, as much as I applaud the past, I am always looking forward. Everyone at Veeam, its partners and the 320,000 customers that rely on us to protect their environments, are looking to closing the year strong. The opportunity in front of us is huge, and I know that 2018 will go on record as Veeam’s best ever.
To all, thanks for your continued support.